Play acquires RiverSong-India

Smart wearables company Play on Monday said it has acquired RiverSong India as it looks to strengthen its distribution network and expand its product portfolio.

No financial details of the transaction were disclosed.

As part of the transaction, RiverSong India operations Chief Executive Officer Manvendra Chandola will join Play as the Group CEO, a statement said.

Chandola, who has 25 years of comprehensive experience and in-depth knowledge of various industries, including FMCG, retail, and electronics, will be instrumental for Play's growth post this strategic acquisition, it added.

"With this development, the brand (Play) aims to strengthen its distribution network, expand its product portfolio and establish a stronger foothold across India," the statement said.

Play is the latest venture of Micromax co-founder Vikas Jain. Play is focused on the design and development of futuristic digital technology infused with AI & IoT features in the activewear and home automation market.

RiverSong Technology - a subsidiary of phone developer, IMG Technology Group - is a global brand with several key smart products and a presence in over 60 countries, including India, South Africa, and Turkey.

The two companies aim to jointly gain an on-ground presence extending to all parts of India and aim to reach one lakh retail outlets in India, including tier-II and III cities and towns, the statement said.

RiverSong India has acquired more than four million customers.

Following this acquisition, Play envisions adding brand-new products to its portfolio, thereby enriching the consumer offering under a dual-brand strategy, the statement said.

"The acquisition of RiverSong India comes at a crucial juncture in the growth journey of both companies. Digital technology is the present and future. With more and more consumers leaning towards ultramodern technology, we aim to be at the forefront of these rapidly changing lifestyle dynamics with an unrivaled portfolio of unique, innovative, and astutely price-friendly products," Play Chairman and MD Vikas Jain said.

With RiverSong India in the mix, Play''s product experience, distribution capabilities, and after-sales service should scale new heights in the near future, he added.